1. Field of the Invention
The invention relates to a system and method for comparative operational performance analysis of one or more units, such as those used in industrial, power generation, pipeline, or refining facilities, using computer software, computer hardware, graphical presentation of result and statistical frontier analysis.
2. Background Summary
Negative competition requires that units perform in the most cost-effective manner consistent with their intended use. This means achieving strategic levels of realistic reliability and expenditures on a consistent basis. The cost-effective element of this relationship is the hardest to achieve. To be effective, a unit's reliability goals and expenditures must be matched with competitive expectations. Defining what constitutes competitive goals requires critical assessments and comparisons, which can best be done using statistical benchmarking techniques.